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The world's largest cryptocurrency exchange Binance has announced that it will list the highly anticipated token Binance Staked SOL (BNSOL).
“Binance will list BNSOL and open trading for BNSOL/SOL at 10/102024 08:00 UTC.”
Stating that there are 3 ways to buy BNSOL, Binance listed them as follows:
“[Kazan] > [ SOL Staking ] öğesine gidin ve [SOL Stake] öğesine tıklayın.
Deposit SOL to BNSOL in Binance Web3 Wallet.
Deposit BNSOL to your Binance account.
Binance also announced a promotional offer for users who stake SOL. Accordingly, Binance said, “Stake SOL to receive BNSOL and enjoy up to 10% increased APR. During the campaign period, all new and existing BNSOL holders will receive up to 10% APR.”
What is Binance Staked SOL (BNSOL)?
Binance Staked SOL (BNSOL) is the token that represents your staked SOL and the staking rewards received, in a tradable and transferable form.
Regular staking locks your staked assets, meaning you cannot use them for other purposes.
In return, BNSOL provides flexibility to sell, transfer, or redeem your staked SOL position. You can move BNSOL to a personal wallet like Binance Web3 Wallet and use it outside of the Binance platform while earning rewards. BNSOL accumulates staking rewards through the BNSOL:SOL conversion rate, even when used in other Binance products or external DeFi applications for additional yield opportunities.
*This is not investment advice.